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willsucceed

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tT
发表于 2011-7-13 15:34 | 只看该作者

Pension Plan Return Objectives

payments, already, includes
Does anyone know why it says that we should consider inflation in Pension Plan return objectives? PBO already includes projected future salary increases, so inflation should already be factored in. Inflation is also considered in Total Future Liability measure (preferred over PBO). Why? Does CFAI want us to assume that pension payments will be indexed to inflation?

 

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oneboy

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2#
发表于 2011-7-13 15:34 | 只看该作者
From the text "The return requirement is the real return required on the plan assets plus the expected inflation rate"

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Zestt

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发表于 2011-7-13 15:34 | 只看该作者
I would say as employees get older in the company , presumably they are more productive and paid higher. Salary increase is not an inflation thing. Future salary increases will come even with inflation rate low

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mar350

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4#
发表于 2011-7-13 15:34 | 只看该作者
Schwezer says that Total Future Liability is PBO adjusted for inflation. Salary increases are already included in PBO though. So, isn't it double counting to adjust PBO for inflation?

Again, the only way this makes sense to me would be if pension payments (not salaries) were indexed to inflation. Am I missing something?

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